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Interest in Other Entities
 12 Months Ended
Dec. 31, 2020
Investments accounted for using equity method [abstract]  
Interest in Other Entities
6.
INTERESTS IN OTHER ENTITIES
The consolidated financial statements include the accounts of the Corporation and its subsidiaries. Additionally, the consolidated financial statements of the Corporation include its interest in joint operations in which the Company or certain subsidiaries have joint control with their partners (Note
2.2-d).
 
 
a)
Main subsidiaries
The following table shows the principal direct and indirect subsidiaries classified by operating segment (Note 7):
 
Name
  
Country
  
Economic activity
Engineering and Construction:
  
 
  
 
   
Cumbra Peru S.A.
  
Peru and Colombia
  
Civil construction, electro-mechanic assembly, buildings management and implementing housing development projects and other related services.
   
GyM Chile S.p.A.
  
Chile
  
Investment funds, investment companies and similar financial entities.
   
Vial y Vives - DSD S.A.
  
Chile
  
Construction engineering projects, civil construction and related technical consultancy, rental of agricultural machinery and equipment, forestry, construction and civil engineering without operator.
   
Cumbra Ingenieria S.A.
  
Peru, Mexico, and Bolivia
  
Advisory and consultancy services in engineering, carrying out studies and projects, managing projects and supervision of works.
   
Morelco S.A.S.
  
Colombia and Ecuador
  
Providing construction and assembly services, supply of equipment and materials, operation and maintenance and engineering services in the specialties of mechanics, instrumentation and civil works.
   
Infrastructure:
  
 
  
 
   
UNNA Energia S.A.
  
Peru
  
Oil and oil
by-products
extraction, operation and exploration services, as well as providing storage and fuel dispatch services.
   
Oiltanking Andina Services S.A.
  
Peru
  
Operation of the gas processing plant of Pisco - Camisea.
   
Transportadora de Gas Natural Comprimido Andino S.A.C.
  
Peru
  
Supply, process and market natural gas and its derivative products.

Name
  
Country
  
Economic activity
Concar S.A.C.
  
Peru
  
Highway and roads concessions operation and maintenance.
   
Tren Urbano de Lima S.A.
  
Peru
  
Concession for the operation of the public transportation system of Lima Metro (Metro de Lima Metropolitana).
   
Survial S.A.
  
Peru
  
Concession for constructing, operating and maintaining Section 1 of the “Southern Inter-oceanic” highway.
   
Norvial S.A.
  
Peru
  
Concession for restoring, operating and maintaining the “Ancon — Huacho — Pativilca” section of the Panamericana Norte road.
   
Concesion Canchaque S.A.C.
  
Peru
  
Concession for operating and maintaining of the Buenos Aires – Canchaque provincial road highway.
   
Concesionaria Via Expresa Sur S.A.
  
Peru
  
Concession for designing, constructing, operating and maintaining the Via Expresa — Paseo de la Republica in Lima.
   
Real estate:
  
 
  
 
   
Viva Negocio Inmobiliario S.A.
  
Peru
  
Developing and managing real estate projects directly or together with other partners.
   
Parent company operation:
  
 
  
 
   
Adexus S.A.
  
Chile, Peru, Colombia and Ecuador
  
IT solutions services.
   
CAM Holding S.p.A.
  
Chile
  
Investment company.
   
Qualys S.A.
  
Peru
  
Human, economic and technological services to the Corporation’s companies.
   
Promotores Asociados de Inmobiliarias S.A.
  
Peru
  
Operating in the real-estate industry and engaged in the development and sale of office premises in Peru.
   
Negocios del Gas S.A.
  
Peru
  
Investment company for construction, operation, and maintenance of the pipeline system to transport natural gas and liquids.
   
Inversiones en Autopistas S.A.
  
Peru
  
Holding company of shares, participation or any other credit instrument or investment document.
   
Agenera S.A.C.
  
Perú
  
Activities related to the generation, cogeneration, transmission, import, export and distribution of electrical energy.
 
The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2020:
 
 
 
Percentage of
common
shares directly
held by Parent (%)
 
 
Percentage of
common shares
held by
Subsidiaries (%)
 
 
Percentage of
common

shares held

by the Group (%)
 
 
Percentage of
common shares
held by non-controlling

interests (%)
 
Engineering and Construction:
 
   
 
   
 
   
 
   
Cumbra Peru S.A.
 
 
98.90
% 
 
 
—  
 
 
 
98.90
% 
 
 
1.10
% 
- Morelco S.A.S.
 
 
—  
 
 
 
70.00
% 
 
 
70.00
% 
 
 
30.00
% 
- GyM Chile S.p.A.
 
 
—  
 
 
 
100.00
% 
 
 
100.00
% 
 
 
—  
 
- Vial y Vives – DSD S.A.
 
 
—  
 
 
 
94.49
% 
 
 
94.49
% 
 
 
5.51
% 
Cumbra Ingenieria S.A.
 
 
89.41
% 
 
 
—  
 
 
 
89.41
% 
 
 
10.59
% 
- Ecología Tecnología Ambiental S.A.C.
 
 
—  
 
 
 
100.00
% 
 
 
100.00
% 
 
 
—  
 
- GM Ingenieria y Construccion de CV
 
 
—  
 
 
 
100.00
% 
 
 
100.00
% 
 
 
—  
 
- GM Ingenieria Bolivia S.R.L.
 
 
—  
 
 
 
98.57
% 
 
 
98.57
% 
 
 
1.43
% 
Infrastructure:
 
   
 
   
 
   
 
   
UNNA ENERGIA S.A.
 
 
95.00
% 
 
 
—  
 
 
 
95.00
% 
 
 
5.00
% 
- Oiltanking Andina Services S.A.
 
 
—  
 
 
 
50.00
% 
 
 
50.00
% 
 
 
50.00
% 
- Transportadora de Gas Natural
 
   
 
   
 
   
 
   
Comprimido Andino S.A.C.
 
 
—  
 
 
 
99.93
% 
 
 
99.93
% 
 
 
0.07
% 
Concar S.A.C.
 
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Tren Urbano de Lima S.A.
 
 
75.00
% 
 
 
—  
 
 
 
75.00
% 
 
 
25.00
% 
Survial S.A.
 
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Norvial S.A.
 
 
18.20
% 
 
 
48.80
% 
 
 
67.00
% 
 
 
33.00
% 
Concesion Canchaque S.A.
 
 
99.96
% 
 
 
0.04
% 
 
 
100.00
% 
 
 
—  
 
Concesionaria Via Expresa Sur S.A.
 
 
99.98
% 
 
 
0.02
% 
 
 
100.00
% 
 
 
—  
 
Real Estate:
 
   
 
   
 
   
 
   
Viva Negocio Inmobiliario S.A.
 
 
56.22
% 
 
 
43.32
% 
 
 
99.54
% 
 
 
0.46
% 
Parent company operations:
 
   
 
   
 
   
 
   
Qualys S.A.
 
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Promotora Larcomar S.A.
 
 
46.55
% 
 
 
—  
 
 
 
46.55
% 
 
 
53.45
% 
Negocios del Gas S.A.
 
 
99.99
% 
 
 
0.01
% 
 
 
100.00
% 
 
 
—  
 
Agenera S.A.
 
 
99.00
% 
 
 
1.00
% 
 
 
100.00
% 
 
 
—  
 
Inversiones en Autopistas S.A.
 
 
1.00
% 
 
 
99.00
% 
 
 
100.00
% 
 
 
—  
 
Cam Holding S.p.A.
 
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Adexus S.A.
 
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 

The following table shows the Corporation’s subsidiaries and related interest as of December 31, 2019:
 
 
  
Percentage of

common

shares directly

held by Parent (%)
 
 
Percentage of
common shares
held by
Subsidiaries (%)
 
 
Percentage of
common
shares held by
the Group (%)
 
 
Percentage of
common shares
held by non-controlling

interests (%)
 
Engineering and Construction:
  
   
 
   
 
   
 
   
Cumbra Peru S.A.
  
 
98.87
% 
 
 
—  
 
 
 
98.87
% 
 
 
1.13
% 
- Morelco S.A.S.
  
 
—  
 
 
 
70.00
% 
 
 
70.00
% 
 
 
30.00
% 
- GyM Chile S.p.A.
  
 
—  
 
 
 
100.00
% 
 
 
100.00
% 
 
 
—  
 
- Vial y Vives – DSD S.A.
  
 
—  
 
 
 
94.49
% 
 
 
94.49
% 
 
 
5.51
% 
Cumbra Ingenieria S.A.
  
 
89.41
% 
 
 
—  
 
 
 
89.41
% 
 
 
10.59
% 
- Ecología Tecnología Ambiental S.A.C.
  
 
—  
 
 
 
100.00
% 
 
 
100.00
% 
 
 
—  
 
- GM Ingenieria y Construccion de CV
  
 
—  
 
 
 
99.00
% 
 
 
99.00
% 
 
 
1.00
% 
- GM Ingenieria Bolivia S.R.L.
  
 
—  
 
 
 
98.57
% 
 
 
98.57
% 
 
 
1.43
% 
Infrastructure:
  
   
 
   
 
   
 
   
UNNA ENERGIA S.A.
  
 
95.00
% 
 
 
—  
 
 
 
95.00
% 
 
 
5.00
% 
- Oiltanking Andina Services S.A.
  
 
—  
 
 
 
50.00
% 
 
 
50.00
% 
 
 
50.00
% 
- Transportadora de Gas Natural
  
   
 
   
 
   
 
   
Comprimido Andino S.A.C.
  
 
—  
 
 
 
99.93
% 
 
 
99.93
% 
 
 
0.07
% 
Concar S.A.C.
  
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Tren Urbano de Lima S.A.
  
 
75.00
% 
 
 
—  
 
 
 
75.00
% 
 
 
25.00
% 
Survial S.A.
  
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Norvial S.A.
  
 
18.20
% 
 
 
48.80
% 
 
 
67.00
% 
 
 
33.00
% 
Concesion Canchaque S.A.
  
 
99.96
% 
 
 
0.04
% 
 
 
100.00
% 
 
 
—  
 
Concesionaria Via Expresa Sur S.A.
  
 
99.98
% 
 
 
0.02
% 
 
 
100.00
% 
 
 
—  
 
Real Estate:
  
   
 
   
 
   
 
   
Viva Negocio Inmobiliario S.A.
  
 
56.22
% 
 
 
43.32
% 
 
 
99.54
% 
 
 
0.46
% 
Parent company operations:
  
   
 
   
 
   
 
   
Qualys S.A
  
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Promotora Larcomar S.A.
  
 
46.55
% 
 
 
—  
 
 
 
46.55
% 
 
 
53.45
% 
Negocios del Gas S.A.
  
 
99.99
% 
 
 
0.01
% 
 
 
100.00
% 
 
 
—  
 
Agenera S.A.
  
 
99.00
% 
 
 
1.00
% 
 
 
100.00
% 
 
 
—  
 
Inversiones en Autopistas S.A.
  
 
1.00
% 
 
 
99.00
% 
 
 
100.00
% 
 
 
—  
 
Cam Holding S.p.A.
  
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
Adexus S.A.
  
 
100.00
% 
 
 
—  
 
 
 
100.00
% 
 
 
—  
 
All investments in subsidiaries have been included in the consolidation. The proportion of voting rights in such subsidiaries is held directly by the Company and does not differ significantly from the proportion of shares held.
As of December 31, the
non-controlling
interest is attributed to the following subsidiaries:
 
 
  
2019
 
  
2020
 
Viva Negocio Inmobiliario S.A. and subsidiaries
  
 
168,839
 
  
 
132,238
 
Cumbra Peru S.A. and subsidiaries
  
 
61,569
 
  
 
51,798
 
Norvial S.A.
  
 
63,031
 
  
 
57,941
 
UNNA ENERGIA S.A.
  
 
24,413
 
  
 
24,162
 
Tren Urbano de Lima S.A.
  
 
77,564
 
  
 
59,231
 
Promotora Larcomar S.A.
  
 
3,058
 
  
 
3,022
 
Other
  
 
(199
) 
  
 
(702
) 
 
  
 
 
 
  
 
 
 
 
  
 
398,275
 
  
 
327,690
 
 
  
 
 
 
  
 
 
In December 2019, the subsidiary Viva Negocio Inmobiliario S.A. through the General Shareholders’ Meeting, it agreed to capitalize its supplementary premium for the amount of S/65.3 million to subsequently reduce the share capital in a
non-proportional
manner by returning contributions amounting to S/82.3 million.

The return did not generate cash outflow as the reciprocal obligations between its shareholders with the subsidiary were offset. Consequently, the Company modified its participation in its subsidiary from 63.4% to 56.2%, in turn its subsidiary Cumbra Peru S.A. (also a shareholder of Viva Negocio Inmobiliario S.A.) modified its stake from 36.1% to 43.3%.
In addition, in December 2019 the subsidiary Cumbra Peru S.A. through the General Shareholders’ Meeting agreed to the capital increase for monetary contributions in the amount of S/146.1 million. Minority shareholders voluntarily waived the
pre-emptive
subscription right, causing the Company’s participation percentage to increase from 98.2% to 98.9%.
Summarized financial information of subsidiaries with material
non-controlling
interests
Set out below is the summarized financial information for each subsidiary that has
non-controlling
interests that are material to the Corporation.
Summarized statement of financial position
 
 
  
Viva Negocio
Inmobiliario S.A.

and subsidiaries
 
 
Cumbra Peru S.A.

and subsidiaries
 
 
Norvial S.A.
 
 
Tren Urbano

de Lima S.A.
 
 
  
As of December 31,
 
 
As of December 31,
 
 
As of December 31,
 
 
As of December 31,
 
 
  
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
Current:
  
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
Assets
  
 
591,402
 
 
 
541,703
 
 
 
1,232,486
 
 
 
1,310,053
 
 
 
84,889
 
 
 
72,462
 
 
 
449,180
 
 
 
367,610
 
Liabilities
  
 
(263,592
) 
 
 
(249,816
) 
 
 
(1,491,747
) 
 
 
(1,687,355
) 
 
 
(53,715
) 
 
 
(45,185
) 
 
 
(93,879
) 
 
 
(85,616
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current net assets (liabilities)
  
 
327,810
 
 
 
291,887
 
 
 
(259,261
) 
 
 
(337,302
) 
 
 
31,174
 
 
 
27,277
 
 
 
355,301
 
 
 
281,994
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
         
Non-current:
  
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
Assets
  
 
121,529
 
 
 
120,223
 
 
 
1,100,218
 
 
 
1,092,120
 
 
 
442,186
 
 
 
403,280
 
 
 
623,033
 
 
 
635,836
 
Liabilities
  
 
(37,851
) 
 
 
(34,378
) 
 
 
(486,924
) 
 
 
(439,253
) 
 
 
(282,358
) 
 
 
(254,979
) 
 
 
(668,080
) 
 
 
(680,905
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-current
net assets (liabilities)
  
 
83,678
 
 
 
85,845
 
 
 
613,294
 
 
 
652,867
 
 
 
159,828
 
 
 
148,301
 
 
 
(45,047
) 
 
 
(45,069
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net assets
  
 
411,488
 
 
 
377,732
 
 
 
354,033
 
 
 
275,565
 
 
 
191,002
 
 
 
175,578
 
 
 
310,254
 
 
 
236,925
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summarized income statement
 
 
  
Viva Negocio
Inmobiliario S.A.

and subsidiaries
 
 
Cumbra Peru S.A.

and subsidiaries
 
 
Norvial S.A.
 
 
Tren Urbano

de Lima S.A.
 
 
  
For the year ended
 
 
For the year ended
 
 
For the year ended
 
 
For the year ended
 
 
  
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
Revenue
  
 
264,401
 
 
 
182,439
 
 
 
2,279,786
 
 
 
1,816,358
 
 
 
272,679
 
 
 
134,149
 
 
 
397,853
 
 
 
345,258
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Profit (loss) before income tax
  
 
30,729
 
 
 
17,816
 
 
 
(116,081
) 
 
 
(76,669
) 
 
 
24,067
 
 
 
(2,029
) 
 
 
121,079
 
 
 
87,522
 
Income tax
  
 
(7,000
) 
 
 
(2,854
) 
 
 
(30,843
) 
 
 
(1,753
) 
 
 
(6,815
) 
 
 
1,405
 
 
 
(39,634
) 
 
 
(26,681
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Profit (loss) for the year
  
 
23,729
 
 
 
14,962
 
 
 
(146,924
) 
 
 
(78,422
) 
 
 
17,252
 
 
 
(624
) 
 
 
81,445
 
 
 
60,841
 
Other comprehensive income
  
 
—  
 
 
 
0
 
 
 
(7,436
) 
 
 
7,368
 
 
 
—  
 
 
 
0
 
 
 
—  
 
 
 
0
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive income for the year
  
 
23,729
 
 
 
14,962
 
 
 
(154,360
) 
 
 
(71,054
) 
 
 
17,252
 
 
 
(624
) 
 
 
81,445
 
 
 
60,841
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summarized statement of cash flows
 
 
  
Viva Negocio
Inmobiliario S.A.
and subsidiaries
 
 
Cumbra Peru S.A.
and subsidiaries
 
 
Norvial S.A.
 
 
Tren Urbano

de Lima S.A.
 
 
  
For the year ended
 
 
For the year ended
 
 
For the year ended
 
 
For the year ended
 
 
  
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
 
2019
 
 
2020
 
Net cash provided from operating activities
  
 
28,791
 
 
 
84,770
 
 
 
(25,503
) 
 
 
1,400
 
 
 
12,514
 
 
 
36,942
 
 
 
379,882
 
 
 
52,055
 
Net cash (applied to) provided from investing activities
  
 
(2,613
) 
 
 
(473
) 
 
 
(20,173
) 
 
 
(8,835
) 
 
 
(33
) 
 
 
(12
) 
 
 
2,845
 
 
 
812
 
Net cash (applied to) provided from financing activities
  
 
(58,722
) 
 
 
(71,484
) 
 
 
209,515
 
 
 
26,550
 
 
 
(46,045
) 
 
 
(39,667
) 
 
 
(273,009
) 
 
 
(145,788
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Decrease) increase in cash and cash equivalents, net
  
 
(32,544
) 
 
 
12,813
 
 
 
163,839
 
 
 
19,115
 
 
 
(33,564
) 
 
 
(2,737
) 
 
 
109,718
 
 
 
(92,921
) 
Cash and cash equivalents at the beginning of the year
  
 
93,262
 
 
 
60,718
 
 
 
172,628
 
 
 
336,467
 
 
 
99,850
 
 
 
66,286
 
 
 
191,178
 
 
 
300,896
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at the end of the year
  
 
60,718
 
 
 
73,531
 
 
 
336,467
 
 
 
355,582
 
 
 
66,286
 
 
 
63,549
 
 
 
300,896
 
 
 
207,975
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The information above is the amount before inter-company eliminations.
 
 b)
Public services concessions
The Corporation has public service concessions. When applicable, the income attributable to the construction or restoration of infrastructure has been accounted for by applying the models described in Note 2.5 (financial asset model, intangible asset and forked model).
Since the termination of the Contract between TGNCA and the Ministry of Energy and Mines, Management has worked on developing and completing new gas compression and liquefaction projects. Additionally, it is evaluating the centralization of the gas business through this vehicle and expects to start the gas compression project in 2021.
In all the Corporation’s concessions, the infrastructure returns to the Grantor at the end of the Contract.
 
The concessions held by the Corporation are as follows as of December 31, 2020:
 
Name of
Concession
  
Description
  
Estimated
investment
  
Consideration
  
Ordinary
shares held
 
Concession
termination
  
Accounting
model
Survial S.A.
  
This company operates and maintains a 750 km road from the San Juan de Marcona port to Urcos, Peru, which is connected to an interoceanic road. The road has five toll stations and three weigh stations.
  
US$99 million
  
Transaction secured by the Peruvian Government involving from annual payments for the maintenance and operation of the road, which is in charge of the Peruvian Ministry of Transport and Communications (MTC).
  
99.90%
 
2032
  
Financial asset
       
Canchaque S.A.C.
  
This company operates and periodically maintains a 78 km road which connects the towns of Buenos Aires and Canchaque, in Peru. The road has one toll station.
  
US$31 million
  
Transaction secured by the Peruvian Government regardless the traffic volume. Revenue is secured by an annual minimum amount of US$0.3 million.
  
99.96%
 
2025
  
Financial asset
       
Concesionaria. La Chira S.A.
  
Designing, financing, constructing, operating and maintaining project called “Planta de Tratamiento de Aguas Residuales y Emisario Submarino La Chira”. The Project will treat approximately 25% of wastewaters in Lima.
  
S/250 million
  
Transaction secured by the Peruvian Government consisting of monthly and quarterly payments settled by Sedapal´s collection trust.
  
50.00%
 
2036
  
Financial asset
       
Tren Urbano de Lima S.A.
  
Concession for the operation of Line 1 of Lima Metro, Peru’s only urban railway system in Lima city, which includes (i) operation and maintenance of the existing trains (24 initial investment trains and 20 additional trains), (ii) operation and maintenance of the railway system (railway and infrastructure).
  
S/642 million
  
Transaction secured by the Peruvian Government involving a quarterly payment received from MTC based on km travelled per train.
  
75.00%
 
2041
  
Financial asset

 
Name of
concession
  
Description
  
Estimated
investment
  
Consideration
  
Ordinary
shares held
 
 
Concession
termination
 
  
Accounting
model
Norvial S.A.
  
The Company operates and maintains the highway that connects Lima to the northwest of Peru. This 183 km road known as Red Vial 5 runs from the cities of Ancon to Pativilca and has three toll stations.
  
US$187 million
  
Collected from users (self-financed concession; revenue is derived from collection of tolls).
  
 
67.00
% 
 
 
2028
 
  
Intangible
       
Via Expresa Sur S.A.
  
The Company obtained the concession for designing, financing, building, operating and maintaining the infrastructure associated with the Via Expresa Sur Project. This project involves the second stage expansion of the Via Expresa — Paseo de la Republica,between Av. Republica de Panama and and Panamericana highway.
  
US$197 million
  
The contract gives the right of collection from users; however the Peruvian Government shall pay the difference when the operating revenue obtained is below US$18 million during the first two years and US$19.7 million from the third year to the fifteenth year of the effective period of the financing, with a ceiling of US$10 million. In June 2017, the contract was suspended temporarily and has been extended until June 2021. To date, the term of the Concession remains suspended by agreement between the parties pending agreement on the terms and conditions to approve the Early Termination of the Concession Contract by Mutual Agreement as provided in Clause 16.3 of the aforementioned Contract.
  
 
99.98
% 
 
 
2053
 
  
Bifurcated
 
 c)
Main joint operations
As of December 31, 2018 and 2019, the Corporation is a partner to 51, and as of December 31, 2020, to 52 Joint Operations with third parties, respectively. The table below lists the Corporation’s major Joint Operations.

 
  
Percentage of interest
 
Joint operations
  
2018
 
 
2019
 
 
2020
 
AENZA S.A.A.
  
   
 
   
 
   
- Concesionaria La Chira S.A.
  
 
50
% 
 
 
50
% 
 
 
50
% 
Cumbra Peru S.A.
  
   
 
   
 
   
- Consorcio CDEM
  
 
85
% 
 
 
85
% 
 
 
—  
 
- Consorcio Huacho Pativilca
  
 
67
% 
 
 
67
% 
 
 
67
% 
- Consorcio GyM – CONCIVILES
  
 
67
% 
 
 
67
% 
 
 
67
% 
- Consorcio AMDP norte
  
 
50
% 
 
 
—  
 
 
 
50
% 
- Consorcio Chicama - Ascope
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio Constructor Alto Cayma
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio Energia y Vapor
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio Ermitaño
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio GyM Sade Skanska
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio
GYM-OSSA
  
 
—  
 
 
 
50
% 
 
 
100
% 
- Consorcio
GyM-Stracon
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio HV GyM
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio La Chira
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio Lima Actividades Comerciales Sur
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio Lima Actividades Sur
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio Menegua
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio para la Atencion y Mantenimiento de Ductos
  
 
40
% 
 
 
-
 
 
 
—  
 
- Consorcio Rio Mantaro
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio Río Urubamba
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio TNT Vial y Vives - DSD Chile LTDA
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Constructora Incolur DSD Limitada
  
 
50
% 
 
 
50
% 
 
 
—  
 
- Consorcio Alto Cayma
  
 
49
% 
 
 
49
% 
 
 
49
% 
- Consorcio La Gloria
  
 
49
% 
 
 
49
% 
 
 
49
% 
- Consorcio Norte Pachacutec
  
 
49
% 
 
 
49
% 
 
 
49
% 
- Consorcio Italo Peruano
  
 
48
% 
 
 
48
% 
 
 
48
% 
- Consorcio Vial Quinua
  
 
46
% 
 
 
46
% 
 
 
46
% 
- Consorcio Constructor Ductos del Sur
  
 
29
% 
 
 
29
% 
 
 
29
% 
- Consorcio Constructor Chavimochic
  
 
27
% 
 
 
27
% 
 
 
27
% 
- Consorcio Inti Punku
  
 
—  
 
 
 
—  
 
 
 
49
% 
- Consorcio Pasco
  
 
—  
 
 
 
1
% 
 
 
1
% 
UNNA ENERGIA S.A.
  
   
 
   
 
   
- Consorcio Terminales
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Terminales del Perú
  
 
50
% 
 
 
50
% 
 
 
50
% 

 
 
  
Percentage of interest
 
Joint operations
  
2018
 
 
2019
 
 
2020
 
Concar S.A.C.
  
   
 
   
 
   
- Consorcio
Ancon-Pativilca
  
 
67
% 
 
 
67
% 
 
 
67
% 
- Consorcio Peruano de Conservación
  
 
50
% 
 
 
50
% 
 
 
50
% 
- Consorcio Manperan
  
 
67
% 
 
 
67
% 
 
 
67
% 
- Consorcio Vial Sierra
  
 
100
% 
 
 
50
% 
 
 
50
% 
- Consorcio Vial Ayahuaylas
  
 
99
% 
 
 
99
% 
 
 
99
% 
- Consorcio Vial ICAPAL
  
 
10
% 
 
 
10
% 
 
 
10
% 
- Consorcio Vial Sullana
  
 
99
% 
 
 
99
% 
 
 
99
% 
- Consorcio Vial del Sur
  
 
99
% 
 
 
99
% 
 
 
99
% 
- Consorcio Obras Viales
  
 
—  
 
 
 
99
% 
 
 
99
% 
Cumbra Ingenieria S.A.
  
   
 
   
 
   
- Consorcio Vial la Concordia
  
 
88
% 
 
 
88
% 
 
 
88
% 
- Consorcio GMI- Haskoningdhv
  
 
70
% 
 
 
70
% 
 
 
70
% 
- Consorcio Supervisor Ilo
  
 
55
% 
 
 
55
% 
 
 
55
% 
- Consorcio
Poyry-GMI
  
 
40
% 
 
 
40
% 
 
 
40
% 
- Consorcio Internacional Supervision Valle Sagrado
  
 
33
% 
 
 
33
% 
 
 
33
% 
- Consorcio Ecotec — GMI — PIM
  
 
30
% 
 
 
30
% 
 
 
30
% 
- Consorcio Ribereño Chinchaycamac
  
 
—  
 
 
 
40
% 
 
 
40
% 
- Consorcio Supervisor GRH
  
 
—  
 
 
 
—  
 
 
 
64
% 
- Consorcio Ecotec — GMI
  
 
—  
 
 
 
—  
 
 
 
20
% 
Joint operations agreements listed above are operated in Peru, Chile and Colombia.
On November 2, 2019, the operation contract of Consorcio Terminales of the subsidiary UNNA ENERGIA S.A., corresponding to the terminals of Pisco, Mollendo, Ilo, Cusco and Juliaca, was terminated, and the assets and operations were delivered to Petroperú. Currently, it is in the process of liquidating assets and liabilities.
The main activities of the joint operations correspond to:
 
Joint Operations in
  
Economic activity
  
AENZA S.A.A. (formerly Graña y Montero S.A.A.)
  
Construction, operation and maintenance of La Chira wastewater treatment plant in the south of Lima. The project is aimed to solve Lima’s environmental problems caused by sewage discharged directly into the sea.
  
Cumbra Peru S.A.
  
These joint operations were created exclusively to development of construction contracts.
  
UNNA ENERGIA S.A.
  
Consorcio Terminales and Terminales del Peru provide services for receiving, storing, shipping and transporting liquid hydrocarbons, such as gasoline, jet fuel, diesel fuel and residual among others.
  
CONCAR S.A.C.
  
Concar’s joint operations provides rehabilitation service, routine and periodic maintenance of the road; and road conservation and preservation services.
  
Cumbra Ingenieria S.A.
  
Engineering consulting services in, study and project execution, project management and Works supervision.
The consolidated financial statements do not include any other type of entities in addition to those mentioned above, such as trust funds or special purpose entities.